Akash Palkhiwala Sells 2,500 Shares of Qualcomm (NASDAQ:QCOM) Stock

Qualcomm Incorporated (NASDAQ:QCOM) EVP Akash Palkhiwala sold 2,500 shares of the stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $180.81, for a total transaction of $452,025.00. Following the completion of the sale, the executive vice president owned 23,184 shares of the company’s stock, valued at approximately $4,191,899.04. This represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Qualcomm Stock Down 3.2%

Qualcomm stock traded down $5.88 during midday trading on Tuesday, hitting $178.10. 13,053,004 shares of the stock were exchanged, compared to its average volume of 18,943,436. Qualcomm Incorporated has a 52-week low of $121.99 and a 52-week high of $259.92. The stock has a market capitalization of $187.72 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 5.47 and a beta of 1.63. The business’s 50-day moving average price is $209.51 and its 200-day moving average price is $168.41. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.09. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.59 billion. During the same period in the prior year, the firm posted $2.85 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. On average, research analysts expect that Qualcomm Incorporated will post 7.96 EPS for the current fiscal year.

Qualcomm declared that its board has initiated a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the wireless technology company to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on QCOM shares. Lake Street Capital cut Qualcomm to a “hold” rating in a research report on Thursday, June 25th. Benchmark raised their target price on Qualcomm from $225.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. BNP Paribas Exane downgraded shares of Qualcomm to a “neutral” rating in a report on Wednesday, April 29th. HSBC assumed coverage on shares of Qualcomm in a research report on Friday, May 8th. They set a “buy” rating for the company. Finally, Sanford C. Bernstein raised their price objective on shares of Qualcomm from $140.00 to $235.00 and gave the stock a “market perform” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $221.31.

Hedge Funds Weigh In On Qualcomm

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors boosted its position in shares of Qualcomm by 14.3% during the 4th quarter. World Investment Advisors now owns 64,911 shares of the wireless technology company’s stock valued at $11,103,000 after acquiring an additional 8,130 shares during the last quarter. MUFG Securities EMEA plc increased its position in shares of Qualcomm by 112.2% in the fourth quarter. MUFG Securities EMEA plc now owns 43,986 shares of the wireless technology company’s stock worth $7,524,000 after purchasing an additional 23,262 shares during the last quarter. Swedbank AB lifted its position in Qualcomm by 1.5% during the fourth quarter. Swedbank AB now owns 1,533,420 shares of the wireless technology company’s stock valued at $262,291,000 after purchasing an additional 23,110 shares during the last quarter. NBC Securities Inc. grew its stake in Qualcomm by 47.5% in the 4th quarter. NBC Securities Inc. now owns 18,691 shares of the wireless technology company’s stock worth $3,197,000 after buying an additional 6,018 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Qualcomm by 5.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 143,690 shares of the wireless technology company’s stock worth $24,578,000 after buying an additional 7,804 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi?Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.